SHAH ALAM, April 9 — Selangor’s investment strategies will be relooked, with greater focus on local companies to ensure economic strength amid the West Asia conflict, said state executive councillor for investment, trade and mobility Ng Sze Han.
He said the state government isn’t looking to limit investment from foreign companies, but instead draw more high-impact domestic companies that have the potential to penetrate more elevated markets.
He added that the focus is on local small and medium enterprises (SMEs) as many such businesses in Selangor are competitive and make use of modern technology.
“We will help these companies market their products to bigger markets especially in the Asian region so these companies can bring profit back to Selangor,” he told Media Selangor.
Ng explained that the global economic crisis hasn’t yet affected state investments, but his office has mitigation plans ready to ensure economic resilience.
“We must be ready to change, including our policies, they must follow the current situation. In the crisis now, we must quickly change to adapt to this situation,” he added.
Last year, Selangor aimed to record over RM60 billion in investment value, higher than the previous year’s RM55 billion, following encouraging economic activity.
According to the Statistics Department (DOSM), Selangor remains an economic driver with its contribution of RM432.1 billion to the national GDP in 2024 — the highest ever — making up 26.2 per cent of the overall figure and cementing the state’s role as the main industrial and services hub.
It also recorded a growth of 6.3 per cent that year, higher than the national average.
Ng previously said Selangor recorded RM83.9 billion in investments last year, reflecting high investor confidence in the state’s economy and business ecosystem.
He added that the government isn’t chasing investment figures, but prioritises investments that present long-term spillover effects to the local economy.
Ng asserted that these effects include the creation of quality jobs, the strengthening of the industrial ecosystem, and the driving of innovation and technology transfer.
